View of Kolon Industries headquarters. (Photo = Kolon Industries)

 

[Alpha Biz= Reporter Kim Jisun] Kolon Industries and SK Microworks (formerly SKC Future Materials) have joined forces to enhance their competitiveness in the PET film sector.

On the 8th, Kolon Industries held a board meeting where they approved the spin-off of their PET film business and entered into a joint venture agreement with SK Microworks, a subsidiary of Han & Company. Kolon Industries will invest approximately 129.6 billion KRW in the joint venture.

In this joint venture, Kolon Industries will hold an 18% stake, while SK Microworks will hold the remaining 82%. SK Microworks, acquired by Han & Company in December 2022, has been developing and commercializing a variety of film materials.

The establishment of this joint venture is a strategic partnership aimed at strengthening the competitiveness of Kolon Industries and SK Microworks in the industrial film sector and solidifying their position in the global market.

Both companies plan to contribute assets to the joint venture, with Kolon Industries providing tangible assets such as PET film production facilities.

Kolon Industries intends to focus on its core businesses, such as aramid, while enhancing its competitiveness in future-oriented industries. The company aims to achieve sustainable growth through investments in emerging sectors like hydrogen, secondary batteries, and eco-friendly solutions.

 

 

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